Rs 1,00,000 Crore Worth Projects: President of India & LIC-Backed Multibagger Financial Institution Signs MoU with Government of Rajasthan
The stock gave multibagger returns of 400 per cent in just 1 year whereas BSE Sensex Index is up by 21 per cent.
On Thursday, shares of Housing and Urban Development Corporation Limited (HUDCO) gained 1.04 per cent to Rs 316.55 per share from its previous closing of Rs 303.30 with an intraday high of Rs 325 and an intraday low of Rs 308.15. The stock’s 52-week high is Rs 353.95 per share and its 52-week low is Rs 60.80 per share.
Housing and Urban Development Corporation Limited (HUDCO) signed a non-binding Memorandum of Understanding (MoU) with the Government of Rajasthan through its Department of Finance, on July 24, 2024, at Jaipur, Rajasthan. The MoU is an in-principle arrangement between the parties to provide financial assistance for housing and urban infrastructure projects in the State of Rajasthan to the extent of Rs 1,00,000 crore (for the next 5 years), subject to mutually agreed terms and conditions. The MoU was executed by Shri Sanjay Kulshrestha, CMD, HUDCO and Shri Debasish Prusty, IAS, Secretary to Government, Finance (Budget) Department, Rajasthan in the presence of Shri Bhajan Lal Sharma, Hon’ble Chief Minister, Rajasthan.
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Housing and Urban Development Corporation Limited provides financial assistance for housing and urban infrastructure development projects. The Company offers loans for housing projects such as urban and rural housing, community toilets, water supply, roads and transports, and power projects. Housing and Urban Development serves customers in India. The company has a market cap of over Rs 63,000 crore and its maximum stake is owned by the President of India (75 per cent as of June 2024). Additionally, the Life Insurance Corporation Of India (LIC) own an 8.44 per cent stake in the company.
The stock gave multibagger returns of 400 per cent in just 1 year whereas BSE Sensex Index is up by 21 per cent. Investors should keep an eye on this mid-cap PSU stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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